Government's Strategic Relief Measures to Counter West Asia Crisis Impact on Trade
The government has initiated relief measures to tackle trade disruption due to the West Asia crisis. Measures include freight subsidies and a Rs 497 crore scheme for exporters. The conflict has impacted global trade, with India showing resilience in food and energy security amid the crisis.
- Country:
- India
The government has rolled out strategic relief measures to mitigate the adverse effects of the West Asia crisis on exports, confirmed Commerce and Industry Minister Piyush Goyal on Thursday.
An attack by the US and Israel on Iran in February has severely disrupted shipping lanes and increased air freight and insurance costs for traders, posing a significant challenge to exporters.
A relief package, including freight subsidies and the Rs 497 crore RELIEF scheme, has been introduced for affected exporters. Despite a modest drop in merchandise exports, India has maintained resilience in food and energy security.
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